|
TAX ANALYSIS
<br />Industrial vs Petrina Park
<br />Land ® $.75 Per Square Foot
<br />Sample Of Industrial Properties:
<br />Land Area Land EMV Cost/Sq. Ft Bldg. EMV Sq. Footage Cost/Sq. Ft % Covered
<br />310 Cty Rd D 50,560 50,600 $1.00 $249,400 12,800 $19.48 25.32%
<br />Kandice Heights 1 99,680 149,500 $1.50 $867,700 32,000 $27.12 32.10%
<br />Kandice Heights 11 52,732 79,100 $1.50 $510,600 13,200 $38.68 25.03%
<br />Metaltronics 156,777 156,800 $1.00 $739,000 40,400 $18.29 25.77%
<br />North Star Turf 115,335 173,000 $1.50 $913,900 35,127 $26.02 30.46%
<br />Slumberland 438,384 328,800 $0.75 $2,790,200 141,140 $19.77 32.20%
<br />Trane Building 127,445 191,200 $1,50 $518,900 31,432 516.51 24.66%
<br />Average $1.25 Average $23.70
<br />Developable Land Area of Site
<br />Max. Building Size
<br />Tax Calculations:
<br />Sq. Footage
<br />797,148
<br />(21.3 Acres - 3 acres of wetland)
<br />Estimated Market Value CO
<br />Sq. Footage $16.51 523.70 $38.68
<br />25% Coverage 199,287 $3,290,228 $4,723,102 57,708,421
<br />30% Coverage 239,144 $3,948,274 $5,667,722 $9,250,105
<br />Building Land @ Tax Taxes Difference
<br />EMV's $0.75 Capacity @ 1.47081% vs Petrina
<br />Land Value = 21.3 acres ® 53,290,228 $695,871 $157,494 $231,644 -520,310
<br />$.75 per Square Foot $3,948,274 5695,871 $183,816 $270,358 518,404
<br />$4,723,102 $695,871 $214,809 $315,943 $63,989
<br />Tax Capacity = $5,667,722 $695,871 $252,594 $371,517 $119,564
<br />2.7% 1st $150,000 $7,708,421 $695,871 $334,222 $491,577 5239,623
<br />4.0% over $9,250,105 $695,871 $395,889 5582,278 5330,324
<br />Petrina Park Calculation:
<br />Number of Units 89
<br />Average Cost Per Unit $138,500
<br />Tax Capacity Per Unit $1,925
<br />Taxes Per Unit ® 147.081% 52,831
<br />Total Taxes When Developed $251,954
<br />(1% 1st 75,000; 1.85% over)
<br />PAGE 1
<br />
|